The relevance of balanced scorecards and alternative theories to organisations: This paper is part 2 of: Critical evaluation of scorecards and alternative theories to the diversity and dynamism of an organisation

The goal of this study is to analyse the relevance of Balanced Scorecards (BSCs) and alternative theories in organisations. The study has set out to analyse the relevance of four theoretical concepts and emphasizes the importance of the theories as an indicator of quality process in organisations. The study contributes to the literature by providing support to the importance of BSC and alternative theories and suggesting a new avenue for future research. The use of BSC has the potential to enhance skills diversity and performance amongst employees, and to increase customer and employee skills development (Kaplan, 1996a). However, the central idea of the (RBVs) theory is that organisations or firms compete on the basis of their resources and capabilities (Peteraf and Bergen 2003). Human Capital was considered as locus classicus in the subject and the concept of human capital is that people tend to spend for their needs in diverse ways, not because of present satisfaction, but for the values attached to future gains. The vital argument about stakeholders is that, since shareholders are publicly-held companies, the managers of these companies are responsible for the welfare of shareholders and should act in the best interest of shareholders. Finally, the study tends to analysethe functionality of BSC and alternative theories before adopting the measures in organisations.